E*TRADE (ETFC) Higher As Buyers Hope for a Takeover
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Shares of E*TRADE Financial (Nasdaq: ETFC) are higher today as investors are betting there is a better chance of a buyout versus a bankruptcy.
It has been long rumored that rival online broker TD AMERITRADE (Nasdaq: AMTD) could buy the company. Recent comments from TD AMERITRADE CEO Joe Moglia, after the recent collapse, suggested they see value in the core online brokerage unit, but they are cautious about the E*TRADE mortgage assets. It could be safely assumed that this is the same feeling many potential E*TRADE buyers have.
Today there was some market talk, that instead of a buyout, E*TRADE could take a cash infusion from a large investor.
Shares of E*TRADE are 10% today. The stock has been extremely volatile since plummeting 59% on 11/12 on bankruptcy fears.
It has been long rumored that rival online broker TD AMERITRADE (Nasdaq: AMTD) could buy the company. Recent comments from TD AMERITRADE CEO Joe Moglia, after the recent collapse, suggested they see value in the core online brokerage unit, but they are cautious about the E*TRADE mortgage assets. It could be safely assumed that this is the same feeling many potential E*TRADE buyers have.
Today there was some market talk, that instead of a buyout, E*TRADE could take a cash infusion from a large investor.
Shares of E*TRADE are 10% today. The stock has been extremely volatile since plummeting 59% on 11/12 on bankruptcy fears.
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